There was a time when if you wanted someone to invest in your product you need to you personally visit them and ask for the required investment. But with the advancement of technology micro-financing has come into play and so has micro-investments from people of different parts of the world. The above process is called crowdfunding. Unfortunately, we at Morgan Financial Recovery have found out that there are a lot of new crowdfunding scams that are happening on a daily basis primarily on two platforms Indiegogo and Kickstarter. Hence we decided to research more about the types of crowdfunding scams that exist and list out all the possible signs of a crowdfunded product being a scam.

Before you get to know about the type of crowdfunding scams that happen on a daily basis, you need to know about our firm Morgan Financial Recovery. Morgan Financial Recovery is the best financial group that has been in the fund recovery game for over 10 years now. So far, we have recovered over 3 million dollars with the help of our 56+ attorneys who work day-in-day-out to bring the most unique and advanced phone recovery solutions for our clients. We have worked in over 2456+ cases as of now and we are also present in over 18+ countries and are on the verge of extending it to all over the world.

How to identify crowdfunding scams?

Remember the iBackPack deal? It was a bag that was promoted to be the most advanced bag in the world which had multiple compartments, USB charging docks and a lot of technology inbuilt that was simply not possible but yet a lot of people believed that. So far, the above product remains as the biggest crowdfunding scam product ever. The investors of the product are still yet to receive the refunds for the very platform where they invested in. Thankfully, Morgan Financial Recovery has helped its customers recover their money who have been a victim of such crowdfunding scams. 

You need to know that if the product is promising something that is way too much for the amount that they are charging for, there is a high chance of the product being a fraudulent one. Also, if the product is in the early development stages, we suggest you never invest in the product. If the product is in the final stages that are marketing and promotion, then you can take a chance and invest in the product. Just make sure that the product has a refund option if it is unable to meet the required investments and so on.

Also, with the popularity of crowdfunding increasing on a daily basis, there are a lot of new crowdfunding platforms that are coming into play. In fact few of them a scam in nature. You need to understand that if you want to invest on a product and you see it in a crowdfunding platform that is not that popular, we at Morgan Financial Recovery suggest you stay away from it. It is because of the reason that crowdfunding platforms at just created to extort quick money from the customers. They spend heavily on the marketing game and earn a lot of money from the fake products that there endorsing and then run away with the money.

What to do if you have lost your funds in the crowdfunding scams?

If you have lost your friends in crowdfunding scams, you can contact us directly at Morgan Financial Recovery, we have dealt with all kinds of scams as of now including crypto scams, binary scams, online casino scams, Forex scams, and even the new ones like online dating scams. Dealing with crowdfunding scams is something that we have been doing for quite some time now, all thanks to our amazing group of attorneys, private investigators, legal advisors, and other recovery managers. Do contact us if you have been a victim of any kind of crowdfunding scams.